| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21.0B | $21.0B | $22.3B | 0.3% | -5.9% |
| Op. Income | $3.0B | $3.1B | $3.0B | -3.3% | -1.6% |
| Gross Margin | 51.8% | 50.6% | 44.6% | 1.3pp | 7.2pp |
| Net Margin | 11.4% | 11.6% | 11.9% | -0.2pp | -0.5pp |
| EPS (Diluted) | $1.32 | $1.38 | $1.43 | -4.8% | -8.2% |
| Free Cash Flow | -$7.3B | -$16.3B | $57.7B | 54.9% | -112.7% |
| Item | Amount |
|---|---|
| REVENUE | $21.0B |
| Cost of Revenue | $10.1B |
| GROSS PROFIT | $10.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $354M |
| General & Administrative | $4.5B |
| SG&A Expenses | $4.9B |
| Other Expenses | $3.0B |
| Operating Expenses | $7.9B |
| Cost & Expenses | $18.0B |
| OPERATING INCOME | $3.0B |
| Interest Income | $15.7B |
| Interest Expense | $9.4B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $3.0B |
| Income Tax Expense | $601M |
| Net Income from Continuing Ops | $2.4B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.4B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.3B |
| D&A | $418M |
| EBIT | $3.0B |
| EBITDA | $3.4B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $21.0B |
| Cost of Revenue | $10.1B |
| GROSS PROFIT | $10.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $354M |
| General & Administrative | $4.5B |
| SG&A Expenses | $4.9B |
| Other Expenses | $3.0B |
| Operating Expenses | $7.9B |
| Cost & Expenses | $18.0B |
| OPERATING INCOME | $3.0B |
| Interest Income | $15.7B |
| Interest Expense | $9.4B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $3.0B |
| Income Tax Expense | $601M |
| Net Income from Continuing Ops | $2.4B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.4B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.3B |
| D&A | $418M |
| EBIT | $3.0B |
| EBITDA | $3.4B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $2.4B |
| Depreciation & Amortization | $418M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $148M |
| Other Non-Cash Items | $993M |
| Change in Working Capital | -$10.8B |
| OPERATING CASH FLOW | -$6.9B |
| Capital Expenditure | -$466M |
| Acquisitions (Net) | $18M |
| Purchases of Investments | -$15.3B |
| Sales/Maturities of Investments | $20.9B |
| Other Investing Activities | $5.7B |
| NET CASH FROM INVESTING | $10.9B |
| Net Debt Issuance | -$387M |
| Common Stock Repurchased | -$4.1B |
| Common Dividends Paid | -$1.4B |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2.6B |
| FREE CASH FLOW | -$7.3B |
| Net Change in Cash | $1.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85.4B |
| Short-Term Investments | $28.6B |
| Net Receivables | $33.8B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $149.2B |
| PP&E (Net) | $7.4B |
| Goodwill | $13.9B |
| Intangible Assets | $2.5B |
| Long-Term Investments | $1.0T |
| Tax Assets | $3.9B |
| Other Non-Current Assets | $306.7B |
| TOTAL NON-CURRENT ASSETS | $1.4T |
| TOTAL ASSETS | $1.5T |
| Account Payables | $30.0B |
| Short-Term Debt | $316.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $847.8B |
| TOTAL CURRENT LIABILITIES | $1.2T |
| Long-Term Debt | $164.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $221M |
| Other Non-Current Liabilities | $68.9B |
| TOTAL NON-CURRENT LIABILITIES | $237.7B |
| TOTAL LIABILITIES | $1.4T |
| Common Stock | $18.1B |
| Additional Paid-In Capital | $208M |
| Retained Earnings | $57.2B |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | $9.4B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $93.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $93.4B |
| TOTAL LIABILITIES & EQUITY | $1.5T |
| Total Debt | $484.9B |
| Net Debt | $399.5B |
